1328 S Patrick Drive, Satellite Beach, FL 32937
$820,000
Property Type:
Residential Income
Square Footage:
5,936
Lot Size (sq. ft.):
19,166
Status:
Closed
Current Price:
$820,000
List Date:
8/24/2016
Last Modified:
10/23/2024
Description
12 rental units located in an ideal part of Satellite Beach. The property is situated on .44 acres. Each unit is a 1 bedroom 1 bath with large closets. There is a huge demand for rentals like these in the area!!! Many of the tenants have been there a long, long time and the rents are WELL BELOW MARKET RATES. An 8% return is easily achievable. All railings have been replaced, the building has been painted, and a new permitted ROOF was installed in 2015. This is a most excellent property.
More Information MLS# 757144
Location, Tax, and Legal
Tax Account: 2612062
Parcel Number: 26-37-34-75-0000b.0-0001.00
General County Location: South
Elementary School: Surfside
Middle School: DeLaura
High School: Satellite
Tax Annual Amount: 4106.51
Tax Year: 2015
Tax Legal Description: SATELLITE BEACH ISLES LOT 1 BLK B
Directions: Located at the intersection of South Patrick Drive and Island Drive which is just north of the Satellite Beach Fire Department.
General Property Information
Number Of Units Total: 12
Living Area: 5824
Living Area Source: Public Records
Building Area Total: 5936
Lot Size Acres: 0.44
Lot Size Dimensions: 128.0 ft x 150.0 ft
Lot Size Square Feet: 19166
Association YN: No
Garage YN: No
Garage Spaces: 0
Carport YN: No
Carport Spaces: 0
Waterfront YN: No
Water Body Access YN: No
Pool Private YN: No
List Price/SqFt: 171.53
Sold Price/SqFt: 140.8
Year Built: 1962
Remarks and Miscellaneous
Public Remarks: 12 rental units located in an ideal part of Satellite Beach. The property is situated on .44 acres. Each unit is a 1 bedroom 1 bath with large closets. There is a huge demand for rentals like these in the area!!! Many of the tenants have been there a long, long time and the rents are WELL BELOW MARKET RATES. An 8% return is easily achievable. All railings have been replaced, the building has been painted, and a new permitted ROOF was installed in 2015. This is a most excellent property.
Appliances
Other: 1
Construction Materials
Block: 1
Concrete: 1
Cooling
Wall/Window Unit(s): 1
Flooring
Carpet: 1
Terrazzo: 1
Levels
Two: 1
Listing Terms
Cash: 1
Conventional: 1
Pool Features
None: 1
Possession
Close Of Escrow: 1
Income and Expenses
Gross Income: 0
Gross Scheduled Income: 69900
Net Operating Income: 46704
Operating Expense: 23196
Owner Pays
Cable TV: 1
Electricity: 1
Insurance: 1
Pest Control: 1
Repairs: 1
Sewer: 1
Taxes: 1
Trash Collection: 1
Water: 1
Roof
Membrane: 1
Special Listing Conditions
Standard: 1
Utilities
Cable Available: 1
Electricity Connected: 1
Separate Electric Meters: 1
Sewer Connected: 1
Water Available: 1
Water Source
Public: 1
Showing Requirements
Appointment Only: 1
Call Listing Office: 1
Contingency Reason
Other: 1
Historical Information
Public Historical Remarks 3: Number of Buildings: 1 Building
Contract Information
Current Price: $820,000
Original List Price: 1100000
Sold Price: $820,000
Status: Closed
Listing Contract Date: 2016-06-13
Property Sub Type: Multi Family
Location Tax and Legal
Street Number: 1328
Street Direction Prefix: S
Street Name: Patrick
Street Suffix: Drive
County: Brevard
State: FL
Postal Code: 32937
MLS Area Major: 382-Satellite Bch/Indian Harbour Bch
Subdivision Name: Satellite Beach Isles
Status Change Information
Major Change Timestamp: 2023-11-11T03:44:26Z
Major Change Type: Price Reduced
Price Change Timestamp: 2016-09-08T19:46:32Z
Status Change Timestamp: 2016-12-13
Contingency: Active Under Contract
Purchase Contract Date: 2016-10-14
Close Date: 2016-12-13
Close Price: 820000
Property Features
Appliances: Other
Construction Materials: Block; Concrete
Cooling: Wall/Window Unit(s)
Flooring: Carpet; Terrazzo
Levels: Two
Listing Terms: Cash; Conventional
Owner Pays: Cable TV; Electricity; Insurance; Pest Control; Repairs; Sewer; Taxes; Trash Collection; Water
Pool Features: None
Possession: Close Of Escrow
Roof: Membrane
Special Listing Conditions: Standard
Utilities: Cable Available; Electricity Connected; Separate Electric Meters; Sewer Connected; Water Available
Water Source: Public
Contingency Reason: Other
Showing Requirements: Appointment Only; Call Listing Office
Listing Office:
RE/MAX Aerospace Realty
Last Updated: October - 23 - 2024
Information is deemed to be reliable, but is not guaranteed.